The Dales Report | Trade to Black

Joining the show is Matt Karnes, CEO of GreenWave Advisors, sharing what investors should pay attention to as cannabis companies start reporting third-quarter results. We’re breaking down Verano Holdings (CBOE: VRNO / OTCQX: VRNOF) and its latest earnings, then previewing the four major operators reporting next week:• Curaleaf Holdings (TSX: CURA / OTCQX: CURLF)• Cresco Labs (CSE: CL / OTCQX: CRLB...

What happens when cannabis cultivation meets true genetic precision? As the industry moves beyond trial and error into data-driven breeding and disease prevention, we’re entering a new era of cultivation science — one that could redefine how growers scale, protect, and profit from the plant. TDR Trade To Black Podcast, presented by Advanced Nutrients, is launching a brand-new segment exploring the...

TDR Cannabis in Five, presented by Dutchie, breaks down the real numbers behind cannabis and crime. Hosted by Shadd Dales, this episode explains the “four shocks” that upend years of assumptions: plummeting arrest rates, stable violent crime trends, improved clearance rates, and how closing dispensaries in some cities led to more neighborhood crime. The data come directly from peer-reviewed studie...

TDR’s Trade to Black podcast, presented by Dutchie, returns with hosts Shadd Dales and Anthony Varrell breaking down four major stories;Here's what they're covering: • Colombia just legalized the sale of psychoactive cannabis flower for medical use—what does this mean for LATAM operators and global exports?• Verano Holdings (CBOE: VRNO) released Q3 earnings: revenue dipped, margins held, a...

Can Canada still turn its early start in legal cannabis into a true global export advantage? A new Financial Post editorial argues the answer lies in medical cannabis exports — and that the next phase of Canada’s cannabis story might finally deliver the economic leadership the country has been chasing since 2018. But it’ll take smart policy, patient science, and industry leaders who think globally...

A new peer-reviewed study just confirmed what many in the cannabis industry have long believed — legalizing medical marijuana leads to significant reductions in opioid prescriptions. But if the data is this clear, why are so many states still restricting access to medical cannabis and home cultivation? TDR Cannabis in Five, presented by Dutchie, breaks down the findings from researchers at the Uni...

So here’s the question — why did the Department of Justice under President Trump ask the Supreme Court for more time in a case involving gun rights and marijuana users? On paper, it’s about firearm policy. But beneath it, this case could be a window into how the administration is sequencing federal cannabis reform — and what that means for the broader rescheduling process. TDR Cannabis in Five, pr...

Is Canada’s cannabis sector about to scale globally—and is rural America under siege from Chinese cartels? Tune in today at 4 PM ET for Trade To Black, presented by Dutchie, hosted by Shadd Dales and Anthony Varrell. Segment One: We kick off with Margaret Brodie, CEO of Rubicon Organics, who breaks down their new Health Canada license for the Cascadia facility in Hope, B.C. This move boosts Rubico...

Pennsylvania could be the next big story in U.S. cannabis — and this time, it feels like something real is happening. With more than 440,000 medical patients, $1.7 billion in yearly sales, and a new Senate bill to create a Cannabis Control Board, the Keystone State looks like it’s quietly getting ready for adult-use legalization. But how close are we, really? On this episode of TDR Trade To Black,...

Florida’s cannabis legalization fight is heating up again. Election officials have invalidated more than 200,000 signatures from the Smart & Safe Florida campaign, sparking lawsuits and new political tension with Governor Ron DeSantis. Meanwhile, Pennsylvania just advanced a bill to create a Cannabis Control Board — a step toward regulating both medical and hemp-derived THC products. And on th...

Now here’s the big question — could Massachusetts actually roll back cannabis legalization? A new campaign is pushing to repeal major parts of the state’s adult-use law, claiming it’s led to impaired driving, youth access, and “quality-of-life” problems. But is this movement real, or just political noise in a market that’s already brought in more than $8 billion in legal cannabis sales? On TDR Can...

The Netherlands could soon turn cannabis legalization into a national election issue — and that’s something Europe hasn’t seen in decades. Ten political parties are now backing full reform ahead of the October 29th vote, signaling that cannabis is no longer a fringe debate but a mainstream political priority. A legal market could generate over €1 billion annually while ending the grey-market confu...

Could the VA be the quiet catalyst for federal cannabis and psychedelic reform? With veterans caught between mental health struggles and fear of losing their benefits, pressure is mounting—and the Trump administration may be positioning the VA to lead the charge. TDR Trade To Black podcast presented by Dutchie features host Shadd Dales in conversation with Matthew “Whiz” Buckley, former TOPGUN fig...

What will the cannabis industry look like 12 months from now? That’s the question investors, operators, and policymakers are asking as we head toward the 2026 midterms. Because depending on whether the DEA officially moves cannabis from Schedule I to Schedule III—or leaves it untouched—the next year could transform the industry in completely opposite ways. On TDR Cannabis in Five presented by Dutc...

Big news out of Pennsylvania — the state just took a major step closer to adult-use cannabis legalization. The Pennsylvania Senate Law and Justice Committee approved a bipartisan bill (10–1 vote) that would create a Cannabis Control Board, a new agency to oversee both the medical marijuana market and the unregulated hemp-derived THC market. Now, this bill doesn’t legalize recreational cannabis jus...

What happens when every state takes cannabis policy into its own hands? Today, we’re breaking down the growing patchwork of laws and agendas shaping the U.S. cannabis market — from Massachusetts’ repeal campaign and Ohio’s rollback bill to Pennsylvania’s new Cannabis Control Board and a viral LinkedIn post from MC Nutraceuticals CEO Brett Worley that’s shaken the hemp industry. The TDR Trade To Bl...

On the latest Trade To Black Podcast, host Shadd Dales and co-host Anthony Varrell sit down with Peter Sack, Managing Partner of Chicago Atlantic (NASDAQ: LIEN) — one of the key players shaping how cannabis companies actually get financed in 2025.Two weeks ago, Verano Holdings (CBOE: VRNO / OTCQX: VRNOF) locked in a $75 million credit facility led by Chicago Atlantic. It wasn’t about raising new m...

What happens when a state government tries to throw out more than 200,000 voter signatures tied to a cannabis legalization campaign? That’s exactly what’s unfolding in Florida, where the state’s top legalization group is suing the government — claiming officials unlawfully invalidated petitions for the 2026 ballot initiative. In today’s episode, we break down why Smart & Safe Florida filed the...

So here’s the question: Why hasn’t President Trump followed through on cannabis rescheduling — ten weeks after the White House said it was “under review”? That August 11 comment set off weeks of speculation that federal action was coming any day. Now, two months later, there’s still no executive order, no DOJ directive, and no DEA timeline. Lawmakers like Senator Ron Wyden said to Marijuana Moment...

Why are hemp and cannabis still beefing over THC—and is it killing reform? We’re calling out the tension between two industries that should be working together but keep clashing over control. On today’s TDR Trade to Black podcast presented by Dutchie, hosts Shadd Dales and Anthony Varrell break down what a unified THC framework could actually look like—and why it’s long overdue. Hemp and cannabis...

How did Michigan’s cannabis market end up in a full-blown tax crisis? A week and a half ago, we covered “The Tax Disaster That’s Killing Weed in Michigan.” Now we’re going deeper — breaking down exactly how the state’s cannabis tax system is structured, who collects what, where the money goes, and why the next round of proposed taxes could break an already strained market. TDR Cannabis in Five pre...

From Florida politics to federal research breakthroughs — what’s really shaping the cannabis industry this week? In this episode, we cover Governor Ron DeSantis finally admitting marijuana legalization is popular with Florida voters, Wisconsin’s long-awaited medical cannabis bill, and new data showing how access to cannabis actually cuts opioid prescriptions nationwide. The TDR Trade To Black Week...

How can you tell if a viral tweet about cannabis reform is real—or just noise? In today’s episode, we break down exactly how professional newsrooms vet stories before putting them on air. From verifying sources to cross-checking agencies and tracing original reporting, you’ll see how journalists separate credible information from social-media speculation. TDR Cannabis in Five presented by Dutchie....

Is Europe finally moving from cannabis liberalisation to professionalisation? This week we break down Germany’s BaFin tightening capital rules, the UK’s first NHS-dispensed cannabis prescription, and a pharmaceutical milestone that could redefine chronic-pain care. We also track new German cultivation applicants (and funding), PHCANN’s pharma-grade push, and why Brazil’s ANVISA delays still keep 6...

Former hedge-fund manager Marc Cohodes is back — and yeah, we’ve got a lot to talk about. This one’s all about momentum in the cannabis space and what feels like a real shift in the market. Glass House Brands (OTC: GLASF) just became tradable on Robinhood, meaning everyday investors can finally grab shares in one of the biggest U.S. cannabis producers. That’s something we haven’t seen before — and...